Port3 Network token crashes over 80% on reports of possible exploit
Key Takeaways
- PORT3 token lost over 80% of its value in just over an hour.
- The crash was triggered by an unauthorized mint of one billion PORT3 tokens and rapid sell-offs.
Share this article
PORT3, the native token of Port3 Network, a project building a decentralized AI data layer that aggregates and standardizes blockchain data for AI-driven dApps and wallets, crashed more than 80% today, wiping its market cap from around $18.5 million to $3.5 million in just over an hour, according to CoinGecko.
The steep decline came after reports that an attacker had minted one billion PORT3 tokens and began offloading them across liquidity pools, overwhelming market depth and accelerating the token’s collapse.
The Port3 team confirmed the exploit, announcing on X that they had pulled liquidity as a precaution and urging users not to trade the token during the investigation. They also stated that they’re prepared to communicate with the hacker and will provide further updates.
Port3 Network raised $3 million in a seed round led by KuCoin Ventures in early 2023. It later secured investment and partnerships from DWF Labs and Jump Crypto.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Navigating Cryptocurrency Frauds: The COAI Token Fiasco and the Importance of Investor Research
- COAI token's 88% collapse in 2025 exposed DeFi vulnerabilities, causing $116.8M investor losses through algorithmic stablecoin flaws and opaque governance. - Centralized token distribution (87.9% in ten wallets) and regulatory ambiguities like the U.S. CLARITY Act enabled coordinated manipulation and liquidity crises. - Global authorities imposed sanctions and froze assets, but jurisdictional gaps persist as Southeast Asia remains a crypto scam hub with $10B annual frauds. - Experts urge smart contract a
XRP News Update: XRP Falls 15% Amid ETF Hopes—Is $2.70 Within Reach?
- XRP fell 15% to $2.17 amid whale selling, but ETF launches and institutional inflows could drive a rebound toward $2.70. - Major ETF providers like Franklin Templeton and Grayscale are preparing XRP products, signaling growing institutional confidence in its cross-border payment utility. - Bitcoin and Ethereum also declined 12-13.4%, but analysts view the dip as a buying opportunity amid ETF-driven demand and stable technical indicators for XRP. - Price resilience above $2.15 and ETF inflows outpacing ou
USB-C in Business: How Standardization Brings Global Trade Together
- Commerce Operations Foundation launches onX, a standardized protocol unifying global commerce systems via real-time order management and inventory sync, akin to USB-C's digital standardization. - Pedego-Urtopia partnership rebrands as New Pedego Holdings, leveraging smart tech and lean manufacturing to expand 500 U.S.-Canada stores through community-focused retail innovation. - MegaETH's cross-chain bridge and Mutuum Finance's DeFi lending protocol highlight DeFi's maturation, with USDm liquidity and aut
Dogecoin News Update: Trump's Chainsaw Agency Dissolved, Efficiency Initiative Continues Amid Bureaucratic Reform
- Trump's DOGE agency, aimed at cutting federal waste, disbanded early amid unverified savings claims and staff departures after Musk's exit. - OPM absorbed DOGE's functions, while Musk's "chainsaw" approach faced criticism for layoffs and lack of transparency in budget reallocations. - Trump administration shifts efficiency focus to AI-driven deregulation, with states like Idaho adopting localized DOGE models. - Critics highlight DOGE's legacy of legal challenges and broken promises, though its cost-cutti
Trending news
MoreCrypto prices
More
